Date Value EUR % Premia Source
Advisors
Advisors to Target: SIA Winergy
Role Company Credit% Individuals
Financial Advisor Internal
P
100
Lawyer Eversheds Sutherland
P
100
Advisors to Bidder: Norvik Ieguldijumi Parvaldes Sabiedriba
Role Company Credit% Individuals
Financial Advisor Internal
P
100
Lawyer Internal
P
100
Advisors to Seller: Devon Dodson Archer (Private Investor)
Role Company Credit% Individuals
Advisors to Seller: Ansager Global Limited
Role Company Credit% Individuals
Deal ID 672211 Announcement date 25/08/2016
Completion date 01/10/2017
Deal Value Not Available
Deal nature Recommended
Deal types Acquisition, Cross border, Joint venture,
Target: Nordea AB (Baltic region operations)
DNB ASA (Baltic region operations)
Bidder: Luminor
Seller: DNB ASA TS
Nordea AB TS
DNB ASA, the listed Norway-based nancial services company providing nancial services, including loans, savings, advisory services, insurance and pensi
retail and corporate customers and Nordea AB, the listed Sweden-based nancial services group providing services, products and solutions within banking
management and insurance businesses, has agreed to combine their Baltics region operation to form a new entity.
The acquisition will enable DNB and Nordea to become the main bank for customers in the baltics, through stronger geographic presence and broader pro
acquisition, DNB and Nordea will have equal ownership in the new entity. The acquisition is subject to regulatory approvals and it is expected to close arou
of 2017.
Nordea’s baltic operations has EUR 8bn in assets and workforce of 1300 employees, whereas DNB’s baltic operations has EUR 5bn inassets and workforce
employees in over 70 branches.
UPDATE 05 December 2016: The transaction has received the approval of European Commission.
UPDATE 31 January 2017: DNB ASA and Nordea AB have applied to the Estonian Competition Authority for the approval the transaction.
UPDATE 07 March 2017: DNB ASA and Nordea AB have decided to name the merged entity as Luminor Group AB.
UPDATE 17 May 2017:
DNB ASA and Nordea AB have appointed the management team for Luminor Group AB.
The transactionis conditional upon regulatory approvals and conditions, and is expected to close around the end of Q3 2017.
UPDATE 01 OCTOBER: The transaction has conpleted and Luminor has started its operations in the Baltic.
Source Link:
Nordea AB press release, 25 August 2016
Nordea AB press release, 25 August 2016 (Danish)
Nordea AB press release, 25 August 2016 (Norwegian)
Nordea AB press release, 25 August 2016 (Finnish)
Nordea AB press release, 25 August 2016 (Swedish)
European Commission press release, 05 December 2016
DNB ASA press release, 07 March 2017 (Estonian)
DNB ASA press release,17May 2017
DNB ASA press release, 21 November 2017
Nordea AB press release, 01 October 2017 (Danish)
Luminor press release, 13 November 2017
Target Nordea AB (Baltic region operations)
Description Estonia-based banking operations of Nordea AB
Sectors Financial Services Subsectors Banking